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SumanSpeaks Capital Markets & Geopolitical Intelligence · Estd 2006 Governance · Regulatory Risk Reliance Power: When Legal Clouds Gather Over Market Euphoria ₹20,367 crore attached across the Reliance Anil Ambani Group. A ₹68.2 crore fake bank guarantee at the centre of it. A former CFO in custody for ten months and counting. And a stock that's still down more than half from its 52-week high even after a sharp rally. The market is pricing the turnaround. The Enforcement Directorate is pricing the history. Both can't be right forever. Reliance Power Ltd (₹24.07) has genuinely turned a corner operationally over the past two years — debt reduction, a growing renewable and BESS order pipeline, and periods of sharp investor re-rating. That part of the story is real and deserves credit. But sitting underneath that story is a live,...
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Vedanta Ltd: Book Profits
Vedanta Ltd, today made a high of Rs.80.65 in the NSE, which is very near the target price given by a brokerage house. 

The current price of Rs.79-80, which though has given a break out on daily chart is unlikely to sustain, as the fundamentats simply do not support the price amidst, the falling crude oil price (once again).

Moreover, the  Nifty has already tested the key Resistance zone of 7320-7365 (7372.45) today. We therefore, need to see if this zone is broken by the bulls; which is unlikely at the moment, especially when the Moody's have downgraded China and the crude oil prices are again on a downward spiral.

Therefore, my suggestion would be to book profit at Rs.79-80, and wait for dips around Rs.73, to enter again.

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